Operation Octagon - Crown Currency Exchange Ltd – Update September 2020

Between 4^th October 2010 the Devon and Cornwall Police conducted an investigation, with regards to Crown Currency Exchange Ltd, Hayle Cornwall, and the conduct of the directors and company officers, which resulted in successful prosecutions at Southwark Crown Court London in 2015.

On 6^th & 7^th May 2015 at Southwark Crown Court the jury returned guilty verdicts in respect of Edward Norman James and Susan Benstead,

The Devon and Cornwall Police then conducted Confiscation Investigations in respect of Edward Norman James and Susan Benstead.

On 3 July 2017 at Southwark Crown Court the following confiscation and compensation orders were made:

• Susan Benstead was ordered to pay £868,580.00
• Edward James was ordered to pay £115,923.80
• Edward James was also ordered to pay £85,234.90 compensation order

7000+ victims were awarded compensation on a pro rota share of each of the amounts lost.

To date HMCTS London Regional Confiscation Unit have been administering the payment of compensation to all the victims when funds had been collected from Susan Benstead and Edward James.

Edward James’ confiscation order and compensation orders had been satisfied in full, although Susan Benstead had a significant sum outstanding, dependent on her sale of property overseas.

The funds previously paid by Mr James / Mrs Benstead have already been paid out on a pro rata basis to the victims, with a further payment due from the amount owed by Mrs Benstead. The HMCTS can only make payments to you when the assets are realised and monies paid to HMCTS.

HMCTS update – September 2020

The HMCTS London Confiscation Unit anticipate that Mrs Benstead will be making a significant payment imminently towards settlement of her Order following the sale of her former home in France.

HMCTS intend to contact all victims again to confirm their current residence and seek confirmation of bank account details so any further payments of compensation can be readily administered via BACS or your preferred payment method.

The HMCTS recognise that many creditors may have moved since the last payment in 2018, their personal details / banking details may have altered.

You can expect to be contacted by the HMCTS London Confiscation Unit, and any questions can be directed to HMCTS. They will be again looking to make payments on a pro rata basis from the next tranche of money from Mrs Benstead.

The office dealing with the confiscation order pay-out is:

HMCTS London Regional Confiscation Unit

London Collection and Compliance Centre
PO Box 31092
London, SW1P 3WS

Telephone 0207 556 8500 or email LCCC@justice.gov.uk